Sep 2011 California Median Home Prices

The September statewide median price of an existing, single-family detached home sold in California was $287,440, down 3.2 percent from a revised $297,060 in August and down 8.3 percent from the $313,460 median price recorded for September 2010. 

For the overall San Francisco Bay Area, the median price was$482,010  , which is 3.2% lower than prior month's $498,190, and 7.5% lower than the same period last year of $521,180.

Other key facts of C.A.R.’s resale housing report for September 2011 include:

* The Unsold Inventory Index for existing, single-family detached homes was 5.1 months in September, essentially unchanged from 5.0 months in August but down from a revised 5.9 months in September 2010. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

* Thirty-year fixed-mortgage interest rates averaged 4.11 percent during September 2011, down from 4.35 percent in September 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.84 percent in July 2011, compared with 3.46 percent in September 2010.

* The median number of days it took to sell a single-family home was 54.4 days in September 2011, compared with 50.3 days for the same period a year ago.

Click here for more analysis and summary of regional sales and price activity, as well as median price in each county.

If you are interested in finding out the median price and sales data for a particular neighborhood or city, please send me an email to meimei@calMBArealty.com to let me know.

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August 2011 California Median Home Prices

California home sales posted an increase from both the previous month and previous year in August, while the median home price rose to its highest level this year, according to data from the CALIFORNIA ASSOCIATION OF REALTORS®.

The August statewide median price of an existing, single-family detached home sold in California was $297,060, up 1 percent from a revised $294,050 in July, but down 7.4 percent from the $320,860 median price recorded for August 2010.

For the overall San Francisco Bay Area, the median price was $498,190 , which is 0.7% higher than prior month's $494,640; and 9.2% lower than the same period last year of $548,610.

Other highlights of C.A.R.’s resale housing report for August 2011 include:

* The Unsold Inventory Index for existing, single-family detached homes was 5 months in August, down from 5.5 months in July and down from a revised 5.8 months in August 2010. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

* Thirty-year fixed-mortgage interest rates averaged 4.27 percent during August 2011, down from 4.43 percent in August 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.93 percent in July 2011, compared with 3.53 percent in August 2010.

* The median number of days it took to sell a single-family home was 52.7 days in August 2011, compared with 45.5 days for the same period a year ago.

Click here for more analysis and summary of regional sales and price activity, as well as median price in each county.

If you are interested in finding out the median price and sales data for a particular neighborhood or city, please send me an email to meimei@calMBArealty.com to let me know.


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